Corient Private Wealth LLC Reduces Stake in The Bank of New York Mellon Corporation $BK

Corient Private Wealth LLC lowered its position in The Bank of New York Mellon Corporation (NYSE:BK) by 5.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 323,121 shares of the bank’s stock after selling 16,946 shares during the period. Corient Private Wealth LLC’s holdings in Bank of New York Mellon were worth $29,439,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at about $1,081,847,000. Qube Research & Technologies Ltd bought a new position in Bank of New York Mellon in the second quarter worth approximately $135,728,000. Goldman Sachs Group Inc. boosted its stake in shares of Bank of New York Mellon by 26.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank’s stock worth $423,858,000 after acquiring an additional 1,052,145 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Bank of New York Mellon by 257.6% during the 1st quarter. Wellington Management Group LLP now owns 1,236,255 shares of the bank’s stock worth $103,685,000 after acquiring an additional 890,593 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Bank of New York Mellon by 37.7% during the 1st quarter. AQR Capital Management LLC now owns 3,244,204 shares of the bank’s stock valued at $266,349,000 after acquiring an additional 887,361 shares during the period. Institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BK shares. Wells Fargo & Company lifted their target price on Bank of New York Mellon from $100.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday, October 17th. Truist Financial lifted their price objective on Bank of New York Mellon from $118.00 to $119.00 and gave the company a “hold” rating in a research report on Friday, October 17th. The Goldman Sachs Group increased their target price on shares of Bank of New York Mellon from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Keefe, Bruyette & Woods raised their target price on shares of Bank of New York Mellon from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Finally, BMO Capital Markets initiated coverage on shares of Bank of New York Mellon in a research report on Friday, October 3rd. They issued an “outperform” rating and a $125.00 price target for the company. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $111.29.

Bank of New York Mellon Trading Down 2.2%

Bank of New York Mellon stock opened at $114.42 on Wednesday. The Bank of New York Mellon Corporation has a 1 year low of $70.46 and a 1 year high of $119.40. The firm’s 50 day moving average price is $109.90 and its 200-day moving average price is $103.12. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market cap of $79.79 billion, a P/E ratio of 16.51, a PEG ratio of 1.06 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last issued its earnings results on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The firm had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a net margin of 12.86% and a return on equity of 14.03%. On average, equities analysts predict that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Monday, October 27th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Monday, October 27th. Bank of New York Mellon’s payout ratio is 30.59%.

About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.